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|Borough Requests Proposals from Pension Managers|
The Borough of Brentwood is inviting firms to submit a proposal for investment managers for its two pension investment funds. The Police Plan has about $5.5 million in assets while the Employee Plan has approximately $1.8 million. Each Plan is about 82% funded. The main responsibilities of the investment manager will be to offer advice on the asset allocation and revising the Investment Policy Statement. In addition, the investment manager will construct and maintain a low cost investment portfolio. The selected manager will arrange for custody services and will meet with the Pension Committees on a quarterly basis. The Borough will consider active managers but would also like to encourage managers that employ index strategies to respond. Other low cost investment solutions, such as a low cost balanced mutual fund as a core holding will also be seriously considered.
The Borough would like to use a yearly set fee to compensate the investment manager. The provider of the professional service must have at least 5 years of experienced with defined benefit pensions. To view submittal requirements and deadlines, see the RFP packet.
|Last Updated on Friday, 10 July 2015 13:17|
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